Power Up Your US Stock Investment! Free Trial forNasdaq TotalView Level 2 data has started!
Starting now until July 30 2024*, users can try Nasdaq TotalView to power up your US stock investment journey on moomoo. Nasdaq will introduce Nasdaq TotalView and how to use it for mooers.
1. Why Nasdaq TotalView?
If Level 1 data is the headline price of a stock, then depth data is the story.
Limited insights into depth of book, where there could be hundreds or even thousands of depth levels given the liquidity of the U.S equities market, means an investor is missing the context necessary to make more informed investment decision. Level 1 and limited Level 2 information for example, displays only the best 10 depth levels, which may not reflect the real market conditions and potential price movements influenced by the total active orders available and visible with Nasdaq TotalView.
Below is an example of Tesla’s (ticker : TSLA) price movement on 22 March 2024. There were more than 500 levels in the order book when market opened at 14:29:38:747 PM Eastern Time.
2. Why is Nasdaq TotalView the best orderbook solution in market?
Nasdaq TotalView — the standard Nasdaq data feed for informed traders — displays the full order book depth on Nasdaq, including every single order at every price level in Nasdaq-, NYSE-, NYSE American- and regional-listed securities trading on Nasdaq.
TotalView also disseminates the Net Order Imbalance Indicator (NOII) for the Nasdaq Opening and Closing Crosses and Nasdaq IPO/Halt Cross.
Quality of order depth
Nasdaq TotalView provides a comprehensive view and insights of the market demand and supply. Comparing the constituent’s stocks of 3 mainstream U.S. indexes, namely the Nasdaq-100, S&P 500 and the Russell 1000, Nasdaq TotalView has more than 80% of the depth share by distance from the national best bid and offer (NBBO). This means that the majority of the orders are seen in the Nasdaq trading venue. (Source: Nasdaq Economic Research)
Quality of the average exchange bid-ask spread
Another important indicator of trading is the bid-ask spread. Generally, the tighter the spread, the higher chance of orders being executed. Using the same set of mainstream U.S. indexes, the average exchange bid-ask spread on Nasdaq Trading venue ranges from 7.8bps-12.3bps versus NYSE Arca depth of 13.4bps-25.0bps.
Trading volume market share
As a result of the depth of pending orders and the tighter bid-ask spread, the trading volume on the Nasdaq trading venue exhibited the bigger market share by volume across all the 3 mainstream U.S. Indexes.
3. How to use Nasdaq TotalView on moomoo?
Go to a stock's Detailed Quotes.
Scroll down to the "Order Book" section.
Tap on the "house" icon to see the complete list of exchanges offering Level 2 data.
If you have any questions during the trial, don't hesitate to leave a comment below and Nasdaq will select representative questions to answer.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Mwine : Any products besides TotalView that are worth trying for beginners?
Ohine : How do you think the biggest advantage in investing U.S. stocks now for sg investors?
Ousit : Where should I check if I want to see the orders after the 60th orders?
Reithw : Where is the nasdaq office in singapore, would love to visit!
Dineyh : Will there be one more chance to visit the exchange again in the future?
Looks interesting but missed out on signing up last time
recall I : Hello!
Could u please tell me how to export the TotalView order details for the current day?
Tieth : Has anyone really earned a lot by using TotalView???
Viviyy : The bid and ask chart change so quickly, how should i directly find out the support and resistance levels?
Duvile : Can nasdaq trade crypto? Is there a plan or it exists already?
Jrithe :
Will nasdaq continue to be the exchange ranked first in the world?
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